## A man has $10,000 to invest. He invests$ 4000 at 5 % and $3500 at 4 %. In order to have a yearly income of$ 500, he must invest the rema

Question

A man has $10,000 to invest. He invests$ 4000 at 5 % and $3500 at 4 %. In order to have a yearly income of$ 500, he must invest the remainder at:<br /><br />(a) 6 % , (b) 6.1 %, (c) 6.2 %, (d) 6.3 %, (e) 6.4 %

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1 month 2021-08-18T08:03:07+00:00 2 Answers 0 views 0

1. ### Given :

Total Amount = $10,000. Amount he invests =$ 4000 at 5 % and = $3500 at 4 %. Yearly Income =$ 500.

### According to the question :

Reminder cash :

Total – Amount he invests

= 10000 – 4000 – 3500

= 2500 .

Amount he invests :

A) $4000 at 5 % = 4000 × 5 / 100 =$ 200 .

B) $3500 at 4 % = 3500 × 4 / 100 =$ 140.

Remainder income :

Yearly income – Amount he invests A and B

= 500 – 200 – 140

= 160.

Remainder income × 100 / Remainder cash

= ( 160 × 100 ) / 2500

= 6.4 .

## @ A♑⛎SHA ❤✌

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